The fund benefits from the outstanding team of Will Riley, Jonathan Waghorn, and highly experienced energy investor Tim Guinness, who has more than three decades of industry experience. The investment process places a great emphasis on analysing energy related data to ensure a thorough understanding of the current drivers of energy markets. This is then fed through to the stock selection process, where the team are searching for companies that are attractively valued, where investor sentiment is improving and investor buying is occurring.
We like this fund as it is managed by an exceptional team of individuals with a long history of investing and working in the commodity sector. They have demonstrated an ability to generate strong returns over the longer term and we consider this fund to be one of the best funds in its sector.
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Fund Manager: Tim Guinness, Will Riley & Jonathan Waghorn
Tim Guinness served as Guinness Asset Management’s CEO and CIO since the firm’s founding in 2003. From 1999 to November 2002, he was Joint Chairman of Guinness Flight Global Asset Management Limited and Chief Executive Officer from 1997 to 1999. While at Guinness Flight (which ultimately merged with Investec Asset Management in 1998), Tim was a founding portfolio manager of the Global Equity Fund, which was established in 1985. Tim read engineering at Cambridge University and, upon graduation in 1968, completed a Master’s Degree in Management Science at the Sloan School M.I.T. in the United States.
Will Riley joined Guinness Asset Management in May 2007 and has been a member of the investment team since that date. Prior to this he spent six years with Pricewaterhouse Coopers in London, working as an equity valuation specialist within their corporate finance division. He has a Master’s degree in Geography from Cambridge University and is a qualified Chartered Accountant.
Jonathan Waghorn has 18 years’ experience in the energy sector. He was a Shell drilling engineer and worked as an energy consultant with Wood Mackenzie before becoming co-head of Goldman Sachs energy equity research in 2000. He joined Investec as co-manager on the Investec Global Energy Fund in 2008. Jonathan joined Mercuria in 2012 to build and grow an equity and fund management business before joining Guinness Asset Management in 2013.
Fund Group: Guinness Asset Management
Guinness Asset Management is a well-recognised investment boutique launched in 2003 by Tim Guinness and fully owned by the employees. Following the creation of the company, Tim Guinness was appointed as the outsourced investment manager of the Investec Global Energy Fund. In February 2008, Guinness handed back the management of the Investec Global Energy Fund to Investec. A month later, Guinness launched its own energy fund with the same strategy previously used for the Investec Global Energy Fund. The company has now $1,025 million AUM across a range of equity mandates.